What many assumed, has this week been verified by the Hurun China Rich List, founded by Rupert Hoogewerf: Chinese travelers spend more during their trips than tourists of any other country on luxury goods. Negative: they travel less than in the past, write a range of publications.
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The dip in China’s economic growth is caused by a more careful group of consumers, who face increased prices, tells retail analyst Paul French in the Globe and Mail. And the reduction in spending on luxury goods is here to stay for a long time, he adds.
When the KFC in China got hit by a food scandal, it took a while before they took on the inevitable buzz at the internet, says internet watcher Sam Flemming in Adage. But now they have started to face the issue directly.
Not deterred by the ongoing heavy smog in Beijing. author Zhang Lijia took of with her Polish friend Kaisa to explore the capital. The charm of the city cannot be buried by the smog, she argues on het weblog.
China’s women might not make it into the country’s ruling Politburo, they do dominate the global self-made rich women list, says Hurun rich list founder Rupert Hoogewerf in the China Daily. “The are like the Chinese ping-pong team, unbeatable.”
China is under attack in the weeks ahead of US presidential elections, yesterday as the US Congress panel released its report on telecommunication giants Huawei and ZTE. Business analyst Shaun Rein tells at The Takeaway is he concerned about the growing hysteria.